Unless CCX starts making adjustments in single cents, the next downward adjustment is zero. The latest CCX advisory says they will be closed for labor day, and will reopen for trading September 7th. One wonders.

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Now is your chance to get in at the bottom! LOL! The greasy slime balls made their money , now all there is left is the poor misguided tree hugging uber enviro nut cases who use one square of toilet paper to go to the bathroom with . Wake up guys it’s all a scam.
Your Friend
Brent In Calgary

The U.S. DOE (Department of Energy) has just spent $253 million to fund a CCS (carbon capture and sequestration) project for Air Products, an industrial gases supplier. The project (see link below) will capture CO2 from two existing process plants in an oil refinery in Port Arthur, Texas, then compress the CO2 into a pipeline for use in enhanced oil recovery. The two process plants are SMR – Steam Methane Reformers – that produce hydrogen from natural gas. The hydrogen is used in several refining processes.
The CCS systems will reportedly capture 1 million tons of CO2 per year. If merchant CO2 is sold for $30 per ton, as some sources report, then the Carbon Emissions Credit must be approximately $45 per ton to obtain a total revenue of $75 per ton, which then gives the project a 5 year simple payout or 20 percent (approximately) return on investment. Note that, if such increased production of CO2 becomes commonplace, the glut of CO2 in the market will depress CO2 prices. Thus, if merchant prices decrease to $20 per ton of CO2, then the Carbon Emissions Credit must increase to $55 per ton make up the difference. That’s a long way from 5 cents per tonne.http://www.airproducts.com/PressRoom/CompanyNews/Archived/2010/16Jun2010.htm

wish some sceptics would picket the CCX!
anthony, u may be interested in this win for aussie farmer, Peter Spencer:
1 Sept: FarmOnline: Lucy Knight: Peter Spencer wins his day in High Court
PROPERTY rights crusader, Peter Spencer, who went on a hunger strike on his southern NSW farm earlier this year, has broken down outside the High Court in Canberra following an unanimous decision in his favour to finally have his case heard…
But the High Court today ruled that Mr Spencer has a case to be heard, and that there was essentially no case to stop it from being heard.
The High Court also ruled the Commonwealth pay full costs for Mr Spencer…
He hugged supporters outside the court and broke down when asked what the ruling meant to him and all Australian farmers.
Mr Spencer said the decision means “rural Australia will now have hope”…
“When I first spoke of carbon 13 years ago, people said ‘what are you talking about?’
“It has been the biggest lock-up, the biggest takings, in the free world out of war time.
“It represents 109 million hectares. 90 per cent of Australian land was stolen from the people and used to meet an international carbon treaty when it should have been taken from the coal-fired power stations.
“This was a cover-up of the worst proportions.”…http://fw.farmonline.com.au/news/nationalrural/agribusiness-and-general/general/peter-spencer-wins-his-day-in-high-court/1929375.aspx

It is not actually the price for a tonne of carbon but the price for a tonne of CO2. Nevertheless, even though you get a substantial amount of oxygen thrown in with the carbon you buy with a tonne of CO2 for a nickel (or perhaps soon for nothing), it is still worth nothing.
If Al Gore’s put his money where his mouth is, a good portion of his $200 million in assets is tied up in CO2 credits. That would make the value of his assets fall faster than the temperatures in the Arctic possibly could.

I love how instead of using a header ID of year they use “vintage”, like the CC’s are a bottle of fine wine. So sticking with the wine theme what the Alarmists ended up with was Maddog 20/20 (click link for those that don’t know what MD 20/20 is: http://en.wikipedia.org/wiki/Low-end_fortified_wine ) instead of the Chateau Mouton-Rothschild Jeroboam they thought they had.

http://www.chicagoclimatex.com/content.jsf?id=801
“Entities or individuals who trade on CCX for purposes other than complying with the emissions reduction requirements, such as market makers, CTA’s, proprietary trading groups, hedge funds and local traders may join the Exchange as Liquidity Providers.”
Te-he. I can think of better things to “provide liquidity” to than to these bozos.

It’s wildly overpriced at a nickel. As others have pointed out, what does one get for their purchase? Nothing. They’re selling…not even air. I could see if this were a futures market where they were taking bets that carbon would some day be rationed, but today it isn’t, so they’re selling…what?

R. de Haan says:
August 31, 2010 at 7:04 pm
Blinded by absolute power these guys will push their limits to get this done, even if they go down trying.
This still isn’t over.
=========================
I agree. We need to be vigilant. The battle is really only beginning.
Chris
Norfolk, VA, USA

R. de Haan said at 7:04 pmThis still isn’t over.
NOT BY A LONG SHOT! WAY TO MUCH MONEY INVOLVED – –
Climate Exchange Plc (CLE) is an AIM listed company which owns:
Chicago Climate Exchange (CCX), launched in 2003
The European Climate Exchange (ECX)
Chicago Climate Futures Exchange (“CCFE”)
Insurance Futures Exchange Services Ltd (IFEX)
California Climate Exchange (CCEX)
Montréal Climate Exchange (MCEX)
Wilderhill Clean Energy Index (ECO index)
December 2007 CCX announced the signing of a memorandum of understanding with the Chinese National Petroleum Corporation Assets Management (“CNPCAM”)to create a joint venture company to explore the feasibility and implementation of an emissions trading platform in China.
July 2008 CCX signs agreement with China national Petroleum Corporation Assets Management Co. Ltd and the City of Tianjin to jointly engage in emissions trading in China.
IFEX launches Florida Wind and Gulf Coast Tropical Wind Futures
CCFE Announces the Successful Launch of Futures Contracts on California Climate Action RegistryCCFE launches Renewable Energy Certificate (REC) Futures
Australian Envex Exchangehttp://www.climateexchangeplc.com/company-history
AND GUESS WHO WAS THERE RIGHT AT THE BEGINNING? IN CHICAGO….
From Bloomberg:Richard Sandor, Barack Obama and the Founding of the Chicago Climate Exchange
Legislation to let polluters buy and sell carbon-dioxide emissions like pork bellies is the outgrowth of Richard L. Sandor, founder of the Chicago-based network of people trading pollution permits from Beijing to Brussels known as Climate Exchange. It doesn’t hurt that the six-year-old market got $1.1 million of seed money from the city’s Joyce Foundation, whose board included a little-known state senator named Barack Obama.http://www.climateexchangeplc.com/investor-relations/directors
I would place NO bets against this gang.

Presumably the infallible computer modelers are investing their grant money right in every possible ‘instrument’ at bargain basement prices.
Right – Mike, Gavin, Phil, Tamino, et al?
In the unlikely event that the models turn out to be wrong – plan-b is a tax-payer bail out.
(or was that plan-a in the first place anyway?)

A century ago, when we still had a semi-free market economy, CCX would have closed shop, dried up, and blown away.
Today, they’ll probably hold out in hopes of some bail-out monies to tide them over till cap-and-trade passes.

If they can’t sell the carbon credits, I have some space they can rent on Lower Wacker Drive. It even has a river side view of the lovely Chicago River and they can count cans and bottles as they float slowly by (and whaterver else happens to be floating by)

If it drops another ten cents to -.05, then I’ll buy all they’ve got! They’d have to send me a nickle with every share, so I’d pocket the money and, as a bonus, have fuel for my fireplace this winter! 😛

The Crash Heard ‘Round the World.
By the way, the spot price for Central Appalachia 12,500 Btu, 1.2 SO2 coal this week was $69.50 per ton. Compare that 5 cents per ton for fiat “market” carbon futures.
How do you ridicule the profoundly ridiculous? And when you consider that the Founders of CCX are now managing the Nation’s economy, it is difficult to be amused.

This is an enormous manufactured scam, but consider– if some form of cap and trade passes, even if mandated by the EPA, there could be a boatload of money to be made by bottom-feeding on this stuff.
Hell, if the government is going to kill the economy even worse than it is now and energy prices will go up, this could be just the place to shelter those dollars and actually make some dough. I’ve been trying to work on the “angle” to all of this, and this could be just the sort of investment. If the government is making artificial markets right in front of us, might as well find a way to make some money…

Like I said when this exchange started, don’t be to surprised if the politico’s don’t do something about this as it’s a way of taxing people breathing, it’d be legendary in the political world, taxing air simply brilliant in there private bars.
And someone commented around here that the enviro’s where like a water melon, green on the outside, red in the middle, i’d like to thank you for that as i’ve had some of my more intelligent friends rolling around on the floor with that.

The formula: create an investment vehicle, hype the new commodity, buy low, watch share prices rise, sell high. The result is money, lots of it. In some cases it’s been about driving up the share prices of companies Gore’s group has already invested in. The fact that the original shareholders of the CCX have already bailed out with their sale to Intercontinental Exchange Inc. for a modest $600 million earlier this year only reinforces the reality that its creators have already lost faith in their elaborate invention. Likewise, the self-styled leaders of the climate change crusade Maurice Strong and Al Gore have already cashed in carbon fortunes already, whilst other active politicians like US President Barrack Obama, and United Nations IPCC Chief Rajendra K. Pachauri are engaged in similar play with their own financial interests in the “carbon” markets.
Like all government rigged quasi-commercial schemes, the only real beneficiaries are the initial shareholders- a special inner circle who are naturally ahead of the curve knowing about legislation and policy before it comes into existence. They are sometimes called “the great and the good,” “the in-crowd,” or “the smartest men in the room” (again, see Enron). Of these, almost all have jumped ship out of the market while their preferred shares- or in the case of the larger energy and manufacturing monopolies, their gratis “Carbon Allowances” given to them free by their governments- are still worth something. If you’re on the inside, it’s simple- get in early, make a ton of money then get out.
The CCX is flat-lining (though, like Frankenstein’s monster, it awaits re-animation as it’s still not actually dead yet) because the market anticipates Obama losing control of Congress in a few weeks. So “Cap and Tax” is impossible to pass, and Obama has already stated that the remainder of his term will be spent implementing current legislation rather than drafting new laws.

Well, the EU has an ETS, New Zealand has too. What about Australia, not sure yet, but as NZ and Aussie politics are more like “me too” politics, I’d say Aus will have an ETS soon too (When ever we get a Govn’t that is).
But where does that leave the US and it’s cap and trade when Obama will focus on the economy.http://www.smh.com.au/world/restoring-us-economy-my-central-mission-obama-20100901-14lqj.html
Not one mention about global warming or climate change at all. Hummmm…..

Dave Dardinger says:
August 31, 2010 at 8:54 pm
For BillyV & Kim
You buy sixteen tons
of carbon dioxide gas
and what do you get?

“Another day older and deeper in debt;
Saint Peter, don’t you call me, ’cause I can’t go—
I owe my soul to the company store”
—Tennessee Ernie Ford (“Sixteen Tons,” written by Merle Travis in 1948, though there is a claim by one George S. Davis that he wrote an earlier version back in the ’30s; see here: http://en.wikipedia.org/wiki/Sixteen_Tons )
/Mr Lynn

Even at $0.00 per ton, I wouldn’t “buy” it. You can’t trade without an account. An account costs $250 to set up. Each side of the trade (either buying or selling) has a fee of $5 per 100 metric tons. So at a minimum, it will cost you $255 to get into this market, even if the price is zero.
Frankly, I’m amazed that the price went to $0.05. If you had previously purchased 100 tons (the minimum size of a contract), why would you sell them for $5, which is sucked up by the $5 fee? It’s not worth the effort. I guess I am making a big assumption that the people who are investing in this, know what they are doing.

I smell a profit. If NZ says that a tonne is worth NZ 0.25, in theory I could buy at a nickel in Chicago, sell in NZ at NZ0.25 and make a turn of three cents US on a tonne. The snag is that one has to doubt that there are any buyers in NZ, and if there were Al Gore would have flooded the market before you or I could get near.

If the administration acts to be as politically non-pragmatic as in the past, then the $0.05 price may make some insiders very rich. That is to say, the EPA may impose regulations that will cause the short-term speculation of the value to skyrocket. Yes, this would be political suicide; but then also consistent with other decisions from the administration.

I understand Al bailed out when CCX was sold. I don’t think the amount of carbon credits he may still hold covers his use of a limo. He would now have to buy a lot of them to justify his use of a private jet.

Kate says:
September 1, 2010 at 12:46 am
….The CCX is flat-lining (though, like Frankenstein’s monster, it awaits re-animation as it’s still not actually dead yet) because the market anticipates Obama losing control of Congress in a few weeks. So “Cap and Tax” is impossible to pass, and Obama has already stated that the remainder of his term will be spent implementing current legislation rather than drafting new laws.
___________________________________________________________
Do not forget the Lame Duck Congress and the fact that all the ousted politicians will be running for the government-industry revolving door. Nasty laws like Cap & Trade and Food Safety will be the price demanded.
Remember the bank bailouts? Well here is the pay off:“Even for Washington, the revolving door between government and Wall Street spins at a dizzying pace. More than 1,400 former members of Congress, Capitol Hill staffers or federal employees registered as lobbyists on behalf of the financial services sector since the start of 2009, according to an exhaustive new study…”http://seekingalpha.com/article/208403-wall-street-and-government-revolving-door-spins-at-dizzying-paceWSJ – John Fund discusses the Democratic agenda for the lame duck Congress, including cap and trade, card-check, and pork.“..The rush to recess gives Democrats little time to pass any major laws. That’s why there have been signs in recent weeks that party leaders are planning an ambitious, lame-duck session to muscle through bills in December they don’t want to defend before November. Retiring or defeated members of Congress would then be able to vote for sweeping legislation without any fear of voter retaliation.”Cap and Trade is indeed a Frankenstien Monster

It appears that Soros, Goldman Sachs, Gore and the rest of the rent seekers have lost their investments. Even their minion, Obama and the Dem Congress, cannot save them.
Everyone should observe one second of silence for their loss and FDALTAO.

In the world of commodity trading, for every loser there is a winner.
So, the question is: where did all the CCX money go? My guesses include Maurice Strong, Franklin “Fannie Mae mortgages are riskless” Raines, Al Gore and his Generation Investment Management, Obama and the Joyce Foundation, Goldman Sachs (they always have their finger in some pie), and of course George Soros.
And who were all the losers? Everyone who believed in this Green Nonsense.

Charcoal briquettes and coal have more value than a ton of CCX carbon instruments these days.
Charcoal briquettes and coal are tangible. In other words, there is something there. the Carbon market is trading air. Nothing is there, and that is why the former have more value.

rbateman says:
August 31, 2010 at 8:10 pmIsn’t Al Gore heavily invested in that exchange?
…
Charles S. Opalek, PE says:
September 1, 2010 at 12:57 pmIn the world of commodity trading, for every loser there is a winner.
So, the question is: where did all the CCX money go? My guesses include Maurice Strong, Franklin “Fannie Mae mortgages are riskless” Raines, Al Gore and his Generation Investment Management, Obama and the Joyce Foundation, Goldman Sachs (they always have their finger in some pie), and of course George Soros.
And who were all the losers? Everyone who believed in this Green Nonsense.
—…—…—…
So, the question becomes: Who (which groups of these prophet-taker/enviro-socialists sold between April 6 2009 and May 20 2009?
How many billions did THEY make on their scheme?

CCX just deals in “feel good” carbon offsets anyway, with the hope that they’ll be worth something towards real offsets when there is an official US carbon market. Thus they were a speculative gamble from the start by design. Lottery tickets would have been better investments.
The “vintage” part comes from these offsets expiring over time. Use it or lose it, and no hoarding. Who wants to buy an asset that is scheduled to lose all its value at a certain date, with the only way to make money from it is to sell it to someone else for a profit while CCX is still selling lots of brand new ones?
As I understand it, for your purchase the CCX will see to it a suitable project will be offsetting the carbon that will be released. Where on this planet will you find a carbon sequestering project that can be done for 5 cents a ton? That wouldn’t cover the administrative cost of glancing at a single email. Good thing this isn’t a real carbon offsetting scheme, since it seems highly likely at those prices they have run up enough “carbon offset debt” to force a real bankruptcy after a real audit by real financial regulators.

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